Tele-Intensive Care Unit Industry increasing in demand with CAGR of 22.5% during 2017–2025

According to The Insight Partners' research, the Tele-Intensive Care Unit Market amassed US$ 1,031.2 million in 2017 and is anticipated to grow at a CAGR of 22.5% to account for US$ 4,884.8 million by 2025. Rising demand for remote patient monitoring, growing government initiatives for telemedicine, shortage of intensivists, and increasing ICU admissions are the crucial factors credited for this expansion.

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Intensive care unit (ICU) telemedicine is an innovative method for providing critical care services via electronic communications. Telemedicine improves ICU outcomes by increasing access to intensivists, thus facilitating early recognition of physiological deterioration. Tele-intensive care unit solutions are a convenient approach for both healthcare providers and patients in remote areas; this is expected to promote the market's growth over the forecast years.

Venture investment and other funding in digital health have been strong since the last few years. According to Rock Health, venture financing in healthcare IT (HCIT) was nearly US$ 4.5 billion in 2015. Not only did the number of deals increase but also the average investment in a deal increased over the last two years. Various government agencies have initiated programs for telemedicine and tele-IC. Due to this, HCIT has attracted investment from biotech and Medtech in the healthcare sector. Thus, growing government initiatives are likely to boost the growth of the tele-intensive care unit market.

Today's ICUs are under tremendous pressure to achieve better outcomes at lower cost while dealing with a serious shortage of intensivists and ICU nurses. According to a report of Annual Philips survey, in 2015, the number of tele-ICU beds was approximately 12,000, which increased to ~15,000 in 2017. Recently, the US witnessed a transformation in acute care delivery where the number of hospitals decreased, whereas the number of intensive care unit (ICU) beds increased. The increasing number of ICU admissions and higher preference for tele-ICU is likely to boost the growth of the tele-intensive care unit market.

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